The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has disbursed N27.01 billion in the second quarter of 2026 to finance mortgages for 415 homebuyers, marking another milestone in the Federal Government’s efforts to bridge Nigeria’s housing deficit.
The latest disbursement brings the Fund’s cumulative financing to N131.67 billion, enabling more than 1,909 Nigerian families to access affordable home ownership through long-term mortgage facilities.
Details of the disbursement were contained in the second quarter (Q2) 2026 Investor Report released by ARM Investment Managers Limited, the fund managers of MREIF, at the Nigerian Exchange Limited (NGX).
The report highlights the growing impact of the Federal Government-backed initiative, which is designed to provide long-term, single-digit interest mortgage financing and expand access to affordable housing across the country.
MREIF commenced operations on March 17, 2025, following the full subscription and Securities and Exchange Commission (SEC) clearance of the basis of allotment for its N100 billion Series 2 issuance.
Structured as a N1 trillion shelf programme, MREIF operates as a closed-end real estate investment fund under a unit trust scheme in line with SEC regulations. The Fund is domiciled in Nigeria and denominated in naira.
According to the report, the Fund seeks to mobilise concessionary capital from the public sector alongside commercial funding from private investors to address Nigeria’s estimated housing deficit while improving access to affordable mortgages.
During the quarter under review, MREIF expanded its network of participating financial institutions by onboarding two additional Eligible Financial Institutions (EFIs), bringing the total to 22 institutions, comprising 11 commercial banks and 11 mortgage banks.
Through these institutions, the Fund provides long-term, low-cost financing that enables banks to offer eligible homebuyers mortgage loans at single-digit interest rates, significantly below prevailing commercial lending rates.
Beyond mortgage financing, MREIF also supports residential housing development through conditional offtake guarantees for qualified developers. The guarantees serve as credit enhancement instruments, helping developers secure construction financing for housing projects.
The report revealed that the Fund’s geographical reach continued to expand during the second quarter, with increased participation recorded in the North-West and South-East regions.
As a result, MREIF’s operations now cover 27 states across Nigeria’s six geopolitical zones, reflecting broader access to affordable housing finance nationwide.
It added that three active offtake guarantee transactions, valued at N9 billion, are currently supporting the construction of 475 housing units in Lagos and Abuja.
In addition, the Fund’s Investment Committee approved three new offtake guarantee transactions worth N7 billion, expected to facilitate the delivery of an additional 576 housing units.
The latest figures underscore the Federal Government’s commitment to expanding affordable housing opportunities through innovative financing mechanisms while encouraging greater private sector participation in residential housing development.
